Mid-January 2023 is the deadline for renewal for private firms

Published On: October 2, 2022 07:00 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 2: The government has extended the deadline until mid-January next year to those who have not been able to register and renew their private firms so far. Such firms now have three and a half months as the government has made the 14th amendment to the Private Firm Registration Rules 2014.

If a request is submitted by mid-January for the renewal of a private firm by explaining the reason for not being able to renew it on time, such a firm will be renewed by the Department of Industry. In that order, three times the renewal fee for each renewal period and the specified penalty must be paid.

A fine of Rs 2,500 has been fixed for each year for private firms with a capital of at least Rs 2 million. A fine of Rs 5,500 per year has been imposed on private firms with a capital of more than Rs 2 million. This regulation contains the provision for transferring the ownership of a private firm.


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